By Daniel Itai.
Maseru, Lesotho (News of The South) – Cryptocurrency entity Apollo, yesterday signed a memorandum of understanding with Lesotho to develop and implement blockchain technology in various departments and initiatives.
The main objectives of the blockchain initiative are to create new wealth in the private sector by harnessing Apollo’s fintech solutions, reduce financial crime, maximise the commercialisation of the nation’s mineral wealth, and reduce the friction of cross border payments.
Apollo claims the plans will help eradicate challenges like unemployment, poverty, and poor access to education.
Steve McCullah, director of business development at Apollo said, “Lesotho is working to become a leader in technology, we are confident Apollo can help accomplish this mission.”
Lesotho is hoping to use the technology to improve its export-import sector, mining and trade of diamonds.
Launched in 2018, Apollo is the 276th largest cryptocurrency in the world in terms of market cap, with a daily trade volume of US$350 000.
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